601 Pine St
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601 Pine St
2 Unit Apartment Building $1,400,000 ($700,000/Unit) 7.94% Cap Rate Brooklyn, NY 11208
Investment Highlights
- Future development site 60 x 97
Executive Summary
We are thrilled to present a remarkable rental opportunity that combines value and versatility! Priced at just $1,450,000 this property offers an inviting space with immense potential. This property is a legal two-family brick house that has a 60 x 97 SF parking Lot adjacent to the property. The two-family property is 2,625 SF in size spread over 3 floors. The ground floor is vacant and serves as storage currently. The second floor is a 3 bedroom / 1 bath unit with private garage currently rented at $3,000. The third floor has a rental unit which is a 4 bedroom / 1 bath apartment currently collecting $2,300 a month. The adjacent parking lot is a great opportunity to have extra income coming in as you may fit approx. 25 cars at $250 a month. This property will not be delivered vacant.
Property Facts In Escrow
| Price | $1,400,000 | Building Class | C |
| Price Per Unit | $700,000 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 2,625 SF |
| Cap Rate | 7.94% | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 9.52/1,000 SF |
| Apartment Style | Townhome |
| Price | $1,400,000 |
| Price Per Unit | $700,000 |
| Sale Type | Investment |
| Cap Rate | 7.94% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 2,625 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1930 |
| Parking Ratio | 9.52/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
Walk Score ®
Very Walkable (79)
Transit Score ®
Rider's Paradise (94)
zoning
| Zoning Code | R5 |
| R5 |
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601 Pine St
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